Mahma Khalil: Change the form of currency is necessary to reduce the money supply and does not require a new law

[yota691]

Mahma Khalil: Change the form of currency is necessary to reduce the money supply and does not require a new law

17/06/2012 | (Voice of Iraq) - add comment -

Baghdad (news) reported decision of the Economic Committee MP for the Kurdish coalition blocs Mahma Khalil, that change the shape of the local currency after deletion of zeros of the three of them do not need new legislation of its own because the law of Iraqi banks allowed the central bank to issue a new currency and select the shape. Khalil (for the Agency news) on Sunday: Although the Iraqi constitution, refusing to issue or print a new currency and selection form by the Central Bank without new legislation permits this, but that the law of the Central Bank of the year (2004) grant the central authority to change the form of currency and issuance new look. He added that the old law remained in effect, the lack of legislation a new law on the Central Bank, so the project to delete the three zeroes from the Iraqi currency does not need new legislation but that the Central has full authority to do so. He pointed to: that the project is very important for the economy Iraq because it will reduce the liquidity of large and estimated at (33) trillion dinars in particular and that Iraq is on the verge of increasing Moisnath Finance for the coming years, implementation of the project is essential and must be applied. The Central Bank of Iraq announced (29 September 2011) that the year 2013 will see Delete the zeros and switch the currency, which warned him, officials and economists because of the presence of mafias currency is preparing to rig the trillions of Iraqi dinars to replace them in the light of the upcoming changes.

Read more: http://www.sotaliraq.com/mobile-news.php?id=61429#ixzz1y3PdyZ5M

[mqchau]

interesting...great post Yota

[TQueezy]

I wonder when they will stop telling us all that they have been planning to redenominate for years and try to clear up confusion that its the sole authority of the CBI to do so. I swear, dinar investors know more about Iraq than their own people (including their "experts") do. And it shows...

Edited June 17, 2012 by TQueezy

[jeepguy]

round or square ,,, plastic or metal ???

[KamelKeeper]

We know more about journalism too.

[zigmeister]

Well if it were true CBI can pursue their trip, why haven't they?

[sandstorm]

No question about the message in this article.

[Niteflyer]

ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ

[yota691]

No question about the message in this article.

It will KEEP a smile on one face!! it KEEP's one on mine anyway!!

[yota691]

and another version!!

Vice: Change the form of currency does not need a new law

06/18/2012 0:00

BAGHDAD - Al Sabah

said the decision of the Economic Commission Deputy Mahma Khalil, that change the shape of the local currency after you delete the three zeroes of which does not require new legislation of its own because the law of Iraqi banks allowed the central bank to issue a new currency and select the shape.

Khalil said: Although the Constitution Iraqi refusal to issue or print a new currency and selection form by the Central Bank without new legislation permits this, but that the law of the Central Bank of the year (2004) grant the central authority to change the shape of the currency and issued new look.

He added that the old law remained in effect, the lack of legislation a new law on the Central Bank, so the project to delete the three zeroes from the Iraqi currency does not need new legislation but that the Central has full authority to do so. He pointed to: that the project is very important for the Iraqi economy because it will reduce the liquidity of large and estimated at (33 ) trillion dinars, particularly that Iraq is on the verge of financial Moisnath increase for the coming years, implementation of the project is essential and must be applied. http://www.alsabaah.com/ArticleShow.aspx?ID=29352

[E A Poe]

It will KEEP a smile on one face!! it KEEP's one on mine anyway!!

Someone negged you for this, I think it is funny so I evened you out! They must want you to KEEP your opinions to yourself

[yota691]

Someone negged you for this, I think it is funny so I evened you out! They must want you to KEEP your opinions to yourself

Thanks E A Poe it is funny, just trying to KEEP some humor abroad!! ROFLMAO

[unirod]

Great article Thx yota